China Plans to Lift Travel Ban on Manus Founder, Independent Operations Set to Resume
Nashnova编辑部
Beijing plans to lift exit restrictions on the founders of AI-agent platform Manus, in step with the company's separation from Meta; Tencent will become the largest shareholder at a roughly $2 billion valuation, while Manus's annualized revenue is expected to stay above $300 million.
Why were the founders barred from leaving China?
In March, Manus CEO Xiao Hong and chief scientist Ji Yichao were summoned to Beijing and barred from traveling abroad.
The probe centered on whether Manus's sale to Meta violated Chinese investment rules.
This means → the trigger was not the technology itself but the cross-border equity transfer — a company founded by a Chinese team selling to a U.S. buyer crossed a regulatory red line.
What happened to the deal?
China's National Development and Reform Commission blocked the roughly $2 billion Meta acquisition in April.
Manus announced this week it will resume independent operations, calling the move "part of our separation from Meta to comply with regulatory requirements in certain regions."
In plain terms = the deal was unwound: Meta cannot complete the purchase, and Manus must be carved out of Meta's structure entirely.
Who picks up the shares after the split?
Original backers — Tencent, ZhenFund, China Renaissance — along with management will buy back shares from Meta at a roughly $2 billion valuation.
U.S. venture firm Benchmark and a handful of smaller investors are not participating; their stakes will largely transfer to Tencent, making it the largest shareholder — but with only a minority stake.
This means → control stays with the founding team. Tencent is the biggest financial backer but does not consolidate Manus; the company continues to operate independently from Singapore.
Has the business been affected?
Manus kept shipping updates throughout the investigation and plans to launch version 2.0 shortly after the separation is finalized.
Annualized recurring revenue is expected to remain above $300 million post-separation.
Beijing regulators told Manus that once the split is completed in a way that satisfies all parties, business operations will be unaffected — though final approval still rests with the NDRC-led review.
What signal is Beijing sending?
The Financial Times noted that Beijing's handling reflects a differentiated regulatory logic — tightening the rules while leaving room for companies that play by them.
Beijing is also considering adding AI-agent technology to the next edition of its export-control list, closing a loophole that let firms route sales to overseas buyers through Singapore.
This reflects a stance of "regulate the transaction, don't kill the company": you can build AI, but where the equity goes and where the technology is sold must stay within the regulatory framework.
Content is for reference only, not financial advice.